O-520-89 ORDINANCE NO. 520-89
AN ORDINANCE AMENDING SECTION 18-49(b) , ARTICLE III,
CHAPTER 18, OF THE CODE OF ORDINANCES OF MIAMI SHORES
VILLAGEj FLORIDA9 REDUCING THE AGE TO BE USED IN COM-
PUTING EARLY RETIREMENT BENEFITS FROM SIXTY-FIVE TO
SIXTY-TWOs PROVIDING FOR EFFECTIVE DATE.
BE IT ORDAINED BY MIAMI SHORES VILLAGE:
Section 1. Section 18-49(b) , Article III, Chapter 18,
of the Code of Ordinances of Miami Shores Village, Florida,
reads as follows:
(0 Any member� who shall have completed at least
fifteen (15) years of creditable service may withdraw
from service at the age of fifty-five (55) or over and
shall thereupon become entitled to receive a service
retirement annuity equal to the actuarial value of his
annuity at age sixty-five (65) , or at his option, such
member shall become entitled to the service retirement
annuity, the payment of which, however, is to be
deferred until his attainment of age sixty-five (65) .
Section 2. Section 18-49(b) , Article 1110 Chapter
18, of the Code of Ordinances of Miami Shores Village,' Florida
shall stand amended to read as follows:
(b) Any member who shall have completed at least
fifteen (15) years of creditable service may withdraw
from service at the age of fifty-fiv6 (55) or over and
shall thereupon become entitled to receive a service
retirement annuity equal to the actuarial value of his
annuity at age sixty-two (62) , -or at his option, such
member shall become entitled to the service retirement
annuity the payment of which, however, is to be
deferrea until his attainment of age sixty-two (62) .
Section 3. This ordinance shall become effective upon
adoption.
PASSED on- First Reading this jZtL_day of January lgiv.
PASSED AND ADOPTED on Second Reading this 7th day of
February 1989.
SPE
ATTEST:
VILLAGE -CLERK—
B
Deputy Clerk
APPROVED AS TO FORM: